Journal entery adjustmen

A/c entries 466 views 1 replies

Amit Kumar

Accountant

276 Points Joined May 2011

Dear all,

We just started a new firm in january and paid sale tax through another person online banking the sales tax and paid him by cheque now please tell me the complete Accouning entries how will this transaction treated waiting for reply

Thanks in advance

Amit kumar

Replies (1)

Nikhilkumar Bakliwal

Founder / Partner - Green Ticks Syndicat

141 Points Joined February 2009

1. Sales tax a/c dr. To Mr. X a/c (being sales tax paid by Mr. X on behalf of the firm) 2. Mr. X a/c dr. To bank account (being sales tax amount paid by Mr. X repaid to him)